Nifty Ends Flat As Investors Await Bihar Election Outcome

The Nifty ended the day flat in the volatile trade as investors remained confused over the outcome of the Bihar elections.

Marketmen are awaiting the result of the Bihar election due on Sunday, which remains crucial to push the NDA's reform process.

Indices

Sensex26,747.1852.90 [0.20%]

Nifty8,261.7514.90 [0.18%]

The Sensex ended the day lower by 38.96 points, while the Nifty marginally down by 1.15 points in trade.

Bhel slumped after it reported a loss for the quarter ending March. Dr Reddy's fell a huge 14% after the company got a warning letter from the US FDA for three of its plants.

State Bank of India lent good support to the markets after its Q2 net profits beat estimates. Punjab National Bank too gained ground after non performing assets at the bank managed to stabilize.

For a change, private sector banks were falling, while PSU banking stocks gained. ICICI Bank, Yes Bank and Federal remained subdued in trade.

Midcap stocks saw a good sell-off with the index seeing cuts of almost 0.75 per cent. Notable losers from the space were Century Textiles, Divis Labs, SRF and Reliance Capital. Shares in PFC fell 8 per cent.